Capital One Sharply Raises Dividend

Capital One (NYSE: COF  ) is apparently not a believer in modest dividend increases. The company announced it is to pay $0.30 per share of its common stock on May 23 to holders of record as of May 13. That amount is six times the $0.05 disbursement the firm handed out in every previous quarter stretching back to May 2009.

Capital One also declared a dividend for its 6.00% series B preferred stock. Possessors of that security will be paid $15.00 on June 3 if they hold their shares as of May 17.

The new common stock dividend annualizes to $1.20 per share. That yields 2.1% at Capital One's current stock price of $58.18.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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5/24/2016 11:33 AM
COF $71.61 Up +0.96 +1.36%
Capital One Financ… CAPS Rating: ****